The Zhitong Finance App learned that on Thursday, Qualcomm (QCOM.US) jumped low. As of press release, the decline was more than 4%. Since June, the share price has fallen by more than 40%. According to the news, Qualcomm announced its results for the third fiscal quarter. Revenue fell 4% year on year to 9.95 billion US dollars, and net profit fell 25% to 2 billion US dollars. The core pressure came from a sharp rise in memory chip prices of about 300% year over year, a sharp drop in mobile phone chip revenue of 20% to US$5.1 billion, and lower than expected results for the fourth fiscal quarter.

Furthermore, the company announced that it will raise prices for all of its chip products starting September 1, involving various product lines currently mainly sold to smartphone manufacturers. ECO Amon characterized this as a “temporary short-term measure” and emphasized that the company is optimizing the supply chain in a variety of ways.

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